Overseas Investment Act 2005

61F Other provisions applying to all exemptions

(1)

This section applies to regulations under section 61C and exemptions granted under section 61D.

(2)

An exemption may be made subject to any conditions.

(3)

Regulations under section 61C may provide, where a person relies on an exemption in the regulations, for the following:

(a)

for conditions of consents, to the extent set out in the regulations, to continue in effect as conditions of the consents but on the basis set out in the regulations (whether or not the person who relies on the exemption is a consent holder):

(b)

for the person who relies on the exemption to be treated as a consent holder to the extent set out in the regulations:

(c)

for consent holders to cease to be subject to the conditions of their consents to the extent set out in the regulations.

(4)

An exemption may at any time be amended or revoked in the same way as it may be made (for example, section 61E applies with all necessary modifications).

(5)

The reasons of the Minister for recommending the regulations or granting an exemption (including why the exemption is necessary, appropriate, or desirable) must be published together with the regulations or exemption.

(6)

However, the publication of an exemption under section 61D, or of the reasons for granting any exemption, may be deferred or dispensed with (in whole or in part) if the Minister is satisfied on reasonable grounds that good reason for withholding the exemption or the reasons (as the case may be) would exist under the Official Information Act 1982.

Compare: 1993 No 107 ss 45, 45A; 2013 No 69 ss 571(5), 572

Section 61F: inserted, on 22 October 2018, by section 47 of the Overseas Investment Amendment Act 2018 (2018 No 25).

Section 61F(6): amended, on 16 June 2020, by section 51 of the Overseas Investment (Urgent Measures) Amendment Act 2020 (2020 No 21).